UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F
FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended: December 31, 1999
Check here if Amendment [ ]; Amendment Number:
This amendment (Check only one.): [ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: WATER STREET CAPITAL, INC.
Address: 225 WATER STREET, S-1987
JACSONVILLE, FL. 32202
13 File Number:
The institutional investment manager filing this report and the
person by whom it is signed hereby represent that the person
signing the report is authorized to submit it, that all
information contained herein is true, correct, and complete, and
and that it is understood that all required items, statements,
schedules, lists, and tables, are considered integral parts of
this form
Person Signing this Report on Behalf of Reporting Manager:
Name: GILCHRIST B. BERG
Title: PRESIDENT
Phone: 904-355-9989
Signature, Place and Date of Signing:
GILCHRIST B. BERG February 10, 2000
Report Type (Check only one.):
[ X] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[ ] 13F COMBINATION REPORT.
I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE
ACT OF 1934
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FORM 13F SUMMARY PAGE
Report Summary:
Number of Other Included Managers: 0
Form 13F Information Table Entry Total: 89
Form 13F Information Table Value Total: 479472
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FORM 13F INFORMATION TABLE
VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP x($1000) PRN AMT PRN CALL DISCRETN MANAGERS SOLE SHARED NONE
------------------------------ ---------------- --------- -------- -------- --- ---- -------- --------- -------- -------- --------
D 4 KIDS ENTMT INC COM COMMON STOCK 350865101 9662 345100 SH SOLE 345100 0 0
D AES CORP USD.01 COM COMMON STOCK 00130H105 20731 277350 SH SOLE 277350 0 0
D AES CORP USD.01 COM OPTIONS - PUTS 00130H105 7475 100000 SH PUT SOLE 100000 0 0
D AGRIBRANDS INTL COM COMMON STOCK 00849R105 920 20000 SH SOLE 20000 0 0
D AIRGAS INC COM COMMON STOCK 009363102 4887 514500 SH SOLE 514500 0 0
D ALBERTSONS INC COM COMMON STOCK 013104104 11231 348274 SH SOLE 348274 0 0
D ALBERTSONS INC COM OPTIONS - CALLS 013104104 1612 50000 SH CALL SOLE 50000 0 0
D AMER EXPRESS CO COM COMMON STOCK 025816109 25918 155900 SH SOLE 155900 0 0
D AMERITRADE HOLDINGS CORP-CL A COMMON STOCK 03072H109 1951 90000 SH SOLE 90000 0 0
D BERKSHIRE HATHAWAY CL A INC DE COMMON STOCK 084670108 37138 662 SH SOLE 662 0 0
D BERKSHIRE HATHAWAY INC CLASS B COMMON STOCK 084670207 732 400 SH SOLE 400 0 0
D BOOKS-A-MILLION INC COM COMMON STOCK 098570104 892 107322 SH SOLE 107322 0 0
D BORDERS GROUP INC COM COMMON STOCK 099709107 2409 150000 SH SOLE 150000 0 0
D BUCKEYE TECHNOLOGIES INC COM COMMON STOCK 118255108 36034 2422456 SH SOLE 2422456 0 0
D CHECKFREE HOLDINGS CORP OPTIONS - PUTS 162816108 3657 35000 SH PUT SOLE 35000 0 0
D COCA COLA CO COM USD .25 COMMON STOCK 191216100 1747 30000 SH SOLE 30000 0 0
D COLUMBIA /HCA HEALTHCARE CORP COMMON STOCK 197677107 3517 120000 SH SOLE 120000 0 0
D COLUMBUS MCKINNON CORP N Y COM COMMON STOCK 199333105 10279 1015292 SH SOLE 1015292 0 0
D COREL SYSTEMS CORP CAD COM COMMON STOCK 21868Q109 4991 330000 SH SOLE 330000 0 0
D COYOTE NETWORK SYSTEMS INC COM COMMON STOCK 22406P108 108 20000 SH SOLE 20000 0 0
D CREDITRUST CORP COM COMMON STOCK 225429109 3503 455800 SH SOLE 455800 0 0
D CVS CORP COM OPTIONS - PUTS 126650100 398 10000 SH PUT SOLE 10000 0 0
D DIGITAL RIVER INC COM STK OPTIONS - PUTS 25388B104 333 10000 SH PUT SOLE 10000 0 0
D E-LOAN INC COM STK COMMON STOCK 26861P107 2112 130000 SH SOLE 130000 0 0
D ETOYS INC COM STK COMMON STOCK 297862104 2722 103700 SH SOLE 103700 0 0
D GELTEX PHARMACEUTICALS INC COMMON STOCK 368538104 832 65000 SH SOLE 65000 0 0
D GEORGIA PACIFIC GROUP COM COMMON STOCK 373298108 6282 123800 SH SOLE 123800 0 0
D GEORGIA-PAC (TIMBER GRP) COMMON STOCK 373298702 2043 83000 SH SOLE 83000 0 0
D GLOBAL CROSSING LTD COM OPTIONS - PUTS G3921A100 2250 45000 SH PUT SOLE 45000 0 0
D GLOBALSTAR TELECOMMUNICATIONS COMMON STOCK G3930H104 22189 504296 SH SOLE 504296 0 0
D HERCULES INC COM COMMON STOCK 427056106 10288 369100 SH SOLE 369100 0 0
D HERCULES INC COM OPTIONS - CALLS 427056106 2230 80000 SH CALL SOLE 80000 0 0
D IMMUNEX CORP NEW COM OPTIONS - PUTS 452528102 1642 15000 SH PUT SOLE 15000 0 0
D IMMUNEX CORP NEW COM OPTIONS - PUTS 452528102 1971 18000 SH PUT SOLE 18000 0 0
D INTERPHASE CORP COM COMMON STOCK 460593106 2429 115000 SH SOLE 115000 0 0
D JOURNAL REGISTER CO COM COMMON STOCK 481138105 10559 684000 SH SOLE 684000 0 0
D KING PHARMACEUTICALS INC COM COMMON STOCK 495582108 3083 55000 SH SOLE 55000 0 0
D LERNOUT & HAUSPIE SPEECH PRODS COMMON STOCK B5628B104 6572 142100 SH SOLE 142100 0 0
D LEXINGTON GLOBAL ASSET MANAGER COMMON STOCK 528932106 227 93226 SH SOLE 93226 0 0
D LHS GROUP INC COM COMMON STOCK 501938104 491 20000 SH SOLE 20000 0 0
D LORAL SPACE AND COMMUNICATIONS COMMON STOCK G56462107 4376 180000 SH SOLE 180000 0 0
D LUCENT TECHNOLOGIES INC COM OPTIONS - PUTS 549463107 2625 35000 SH PUT SOLE 35000 0 0
D LUCENT TECHNOLOGIES INC COM OPTIONS - PUTS 549463107 2625 35000 SH PUT SOLE 35000 0 0
D MCDERMOTT INTL INC COM COMMON STOCK 580037109 9595 1058800 SH SOLE 1058800 0 0
D MCDERMOTT INTL INC COM OPTIONS - CALLS 580037109 906 100000 SH CALL SOLE 100000 0 0
D MCDERMOTT INTL INC COM OPTIONS - CALLS 580037109 131 14500 SH CALL SOLE 14500 0 0
D MEDIMMUNE INC COM OPTIONS - PUTS 584699102 12440 75000 SH PUT SOLE 75000 0 0
D MEDIMMUNE INC COM OPTIONS - PUTS 584699102 4146 25000 SH PUT SOLE 25000 0 0
D MEDIMMUNE INC COM OPTIONS - PUTS 584699102 2156 13000 SH PUT SOLE 13000 0 0
D MISSISSIPPI CHEMICAL CORP COMMON STOCK 605288208 1794 290000 SH SOLE 290000 0 0
D MORTGAGE.COM INC COM COMMON STOCK 61910V102 290 50000 SH SOLE 50000 0 0
D MP3.COM INC USD COM COMMON STOCK 62473M109 2313 73000 SH SOLE 73000 0 0
D NET BANK INC COM COMMON STOCK 640933107 1032 55800 SH SOLE 55800 0 0
D NORTEL NETWORKS CORP NPV COM OPTIONS - PUTS 656569100 1515 15000 SH PUT SOLE 15000 0 0
D OAKWOOD HOMES CORP COM COMMON STOCK 674098108 956 300000 SH SOLE 300000 0 0
D ORGANOGENESIS INC COM COMMON STOCK 685906109 825 95000 SH SOLE 95000 0 0
D PACIFIC GATEWAY EXCHANGE INC COMMON STOCK 694327107 1296 75983 SH SOLE 75983 0 0
D PACIFIC GATEWAY EXCHANGE INC OPTIONS - PUTS 694327107 1501 88000 SH PUT SOLE 88000 0 0
D PACIFICARE HEALTH SYSTEMS INC OPTIONS - PUTS 695112102 1060 20000 SH PUT SOLE 20000 0 0
D PACKAGED ICE INC COM COMMON STOCK 695148106 806 248000 SH SOLE 248000 0 0
D PARAMETRIC TECHNOLOGY CORP COMMON STOCK 699173100 17100 631900 SH SOLE 631900 0 0
D PAYLESS SHOESOURCE COM COMMON STOCK 704379106 13404 285200 SH SOLE 285200 0 0
D PENN VA CORP COM COMMON STOCK 707882106 504 30100 SH SOLE 30100 0 0
D PERKINELMER INC COM STK COMMON STOCK 714046109 22511 540000 SH SOLE 540000 0 0
D PHELPS DODGE CORP COM COMMON STOCK 717265102 4094 60778 SH SOLE 60778 0 0
D POTASH CORP OF SASKA TCHEWAN I COMMON STOCK 73755L107 19756 410000 SH SOLE 410000 0 0
D POTASH CORP OF SASKA TCHEWAN I OPTIONS - CALLS 73755L107 1204 25000 SH CALL SOLE 25000 0 0
D PRICELINE.COM INC COM COMMON STOCK 741503106 4737 100000 SH SOLE 100000 0 0
D RELIASTAR FINL CORP COM COMMON STOCK 75952U103 8307 212000 SH SOLE 212000 0 0
D ROBERT HALF INTL INC COM COMMON STOCK 770323103 8611 301500 SH SOLE 301500 0 0
D SOURCE INFORMATION MGMT CO COM COMMON STOCK 836151209 4020 240000 SH SOLE 240000 0 0
D STAMPS.COM INC COM COMMON STOCK 852857101 3121 75000 SH SOLE 75000 0 0
D STEIN MART INC COM COMMON STOCK 858375108 1996 351034 SH SOLE 351034 0 0
D STURM RUGER & CO INC COMMON STOCK 864159108 1775 200000 SH SOLE 200000 0 0
D TB WOODS CORP COM COMMON STOCK 872226105 617 72600 SH SOLE 72600 0 0
D TCSI CORP COM COMMON STOCK 87233R106 714 224100 SH SOLE 224100 0 0
D TERRA INDS COM COMMON STOCK 880915103 601 370000 SH SOLE 370000 0 0
D UBID INC COMMON STOCK 903469104 1722 65000 SH SOLE 65000 0 0
D UNITED TECHNOLOGIES CORP COMMON STOCK 913017109 9672 148800 SH SOLE 148800 0 0
D US AIRWAYS GROUP INC COM COMMON STOCK 911905107 13885 433079 SH SOLE 433079 0 0
D US AIRWAYS GROUP INC COM OPTIONS - CALLS 911905107 1603 50000 SH CALL SOLE 50000 0 0
D USG CORP COM NEW COMMON STOCK 903293405 4008 85057 SH SOLE 85057 0 0
D VENTANA MEDICAL SYS COM COMMON STOCK 92276H106 2676 107600 SH SOLE 107600 0 0
D WALGREEN CO COM COMMON STOCK 931422109 2925 100000 SH SOLE 100000 0 0
D WASTE MANAGEMENT INC COM STK COMMON STOCK 94106L109 3265 190000 SH SOLE 190000 0 0
D WASTE MANAGEMENT INC COM STK OPTIONS - CALLS 94106L109 859 50000 SH CALL SOLE 50000 0 0
D WELLS FARGO COMPANY COMMON STOCK 949746101 808 20000 SH SOLE 20000 0 0
D WIT CAPITAL GROUP INC COMMON STOCK 97737K309 2125 125000 SH SOLE 125000 0 0
D XEIKON SPONSORED ADR ADRS STOCKS 984003103 2417 134300 SH SOLE 134300 0 0
S REPORT SUMMARY 89 DATA RECORDS 479472 0 OTHER MANAGERS ON WHOSE BEHALF REPORT IS FILED
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